Lower your interest rates: FM to PSU banks

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New Delhi, Nov 4: In an attempt to review liquidity situation and performance of the lenders, Finance Minister P Chidambaram on Tuesday, Nov 4 held a meeting with top leaders of Private Sector Unit (PSU) banks. Chidambaram, who had said on Sunday, Nov 2 that he would ask the state-owned banks to consider lowered interest rates, hold wide-ranging consultations with the bank executives relating to impact of the global meltdown on the Indian banking sector and consider various steps to overcome the challenge.
The meeting comes a day after the business leaders of Indian industry met Prime Minister Manmohan Singh and demanded steps for enhancing the liquidity and steps to create environment conducive for lowering of interest rates.

SBI Chairman O P Bhatt, PNB chief K C Chakrabarty, Bank of Baroda Chairman M D Mallya, Canara Bank head A C Mahajan, UCO Bank CMD S K Goel were among those who attended the meeting, where top officials of the Finance Ministry and RBI were also present.


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